 Definition Values and Lifestyles. Description.
Values and Lifestyles is a way of
market segmentation whereby
consumers are segmented into mutually exclusive groups like "Achievers" or
"Experiencers" based on their psychographics. Acronym is VALS.
The original VALS system was built by consumer futurist Arnold
Mitchell, trying to explain changing U.S. values and lifestyles in the 1970s.
Originally, there were three categories of consumers:
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Need-directed. Consumers who make purchasing decisions
based solely on need.
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Outer-directed. Consumers who make purchases based
on their perceptions of the way others view them.
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Inner-directed. Consumers who make purchasing decisions
out of some inner need.
In 1978, the concept was adopted by consulting firm SRI International
who also own the trademark.
In 1989, VALS was redefined to maximize its ability to predict
consumer behavior. A team of experts from SRI International, Stanford University,
and the University of California, Berkeley, determined that consumers should
be segmented on the basis of enduring personality traits rather than social
values that change over time.
The current eight VALS types are: Innovators, Thinkers,
Achievers, Experiencers, Believers, Strivers, Makers, and Survivors. Each
group is based on two dimensions: primary motivation (ideals,
achievement, and self-expression) and resources (energy, self-confidence,
intellectualism, novelty seeking, innovativeness, impulsiveness, leadership,
and vanity).
VALS segmentation unlike traditional segmentation begins with
people instead of products and classifies them into different types, each
characterized by a unique style of living - it then determines how marketing
factors fit into their lives. This perspective provides a three-dimensional
view of the target consumer.
Some of the uses to which VALS segmentation has been put are:
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To identify whom to target and find niche markets much more
easily.
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To locate where concentrations of your target group lives.
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To gain insight into why the target group acts the way it
does.
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To improve and introduce products that speak to customers'
values.
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To target marketing and advertising campaigns much more
effectively and much more accurately.
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To position products much more accurately in the marketplace.
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Compare with: Positioning
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